Investing.com - U.S. stock futures pointed to a higher open on Monday, as the results of Spanish bank stress tests on Friday slightly lifted market sentiment although concerns over the effects of a global economic slowdown continued to weigh.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.43% rise, S&P 500 futures signaled a 0.37% increase, while the Nasdaq 100 futures indicated a 0.51% gain.
The Bank of Spain announced Friday that the recapitalization needs of Spanish banks amounted to EUR59.3 billion, broadly in line with market expectations.
Investors remained cautious however, as the Spanish government said the effort to clean up an ailing banking system will widen its budget gap and increase its debt load.
Markets were also eyeing the outcome of Moody's rating agency's latest review of Spain's sovereign rating, which may see it downgraded to junk status.
Separately, data earlier showing that manufacturing activity in China contracted for the second consecutive month in September, falling to the lowest level since November 2011, sparked fresh concerns over the outlook for growth in the world's second largest economy.
The tech sector was expected to be active, after Apple reported opening weekend sales for the iPhone 5 that missed some analysts’ estimates.
Last Friday, CEO Tim Cook apologized for releasing mapping software that provided wrong directions and the wrong locations of landmarks. Shares in the tech giant were up 0.72% in pre-market trade.
In the Internet field, Monster jumped 1.36% pre-market, after DealReporter said the online recruiting service held talks with a private-equity firm. Symphony Technology Group LLC and a partner may bid for the company.
Elsewhere, aircraft manufacturers were also likley to be in focus, as the U.S. Defense Department on Friday awarded United Launch Alliance, a 50-50 joint venture of Lockheed Martin and Boeing a contract valued at USD1.17 billion to provide satellite launches using its Delta IV and Atlas V rockets.
In addition, the International Air Transport Association said carriers may post USD4.1 billion of profit this year, compared with USD8.4 billion in 2011. North American airline earnings will reach USD1.9 billion, compared with the earlier prediction of USD1.4 billion, IATA added.
Across the Atlantic, European stock markets were higher. The EURO STOXX 50 climbed 0.93%, France’s CAC 40 jumped 1.23%, Germany's DAX advanced 0.96%, while Britain's FTSE 100 rallied 1.13%.
During the Asian trading session, Japan’s Nikkei 225 Index dropped 0.83%, while markets in Hong Kong were closed for a national holiday.
Later in the day, the U.S. was to publish a report by the Institute for Supply Management on manufacturing PMI, while Federal Reserve Chairman Ben Bernanke was due to speak at the Economic Club of Indiana, in Indianapolis.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.43% rise, S&P 500 futures signaled a 0.37% increase, while the Nasdaq 100 futures indicated a 0.51% gain.
The Bank of Spain announced Friday that the recapitalization needs of Spanish banks amounted to EUR59.3 billion, broadly in line with market expectations.
Investors remained cautious however, as the Spanish government said the effort to clean up an ailing banking system will widen its budget gap and increase its debt load.
Markets were also eyeing the outcome of Moody's rating agency's latest review of Spain's sovereign rating, which may see it downgraded to junk status.
Separately, data earlier showing that manufacturing activity in China contracted for the second consecutive month in September, falling to the lowest level since November 2011, sparked fresh concerns over the outlook for growth in the world's second largest economy.
The tech sector was expected to be active, after Apple reported opening weekend sales for the iPhone 5 that missed some analysts’ estimates.
Last Friday, CEO Tim Cook apologized for releasing mapping software that provided wrong directions and the wrong locations of landmarks. Shares in the tech giant were up 0.72% in pre-market trade.
In the Internet field, Monster jumped 1.36% pre-market, after DealReporter said the online recruiting service held talks with a private-equity firm. Symphony Technology Group LLC and a partner may bid for the company.
Elsewhere, aircraft manufacturers were also likley to be in focus, as the U.S. Defense Department on Friday awarded United Launch Alliance, a 50-50 joint venture of Lockheed Martin and Boeing a contract valued at USD1.17 billion to provide satellite launches using its Delta IV and Atlas V rockets.
In addition, the International Air Transport Association said carriers may post USD4.1 billion of profit this year, compared with USD8.4 billion in 2011. North American airline earnings will reach USD1.9 billion, compared with the earlier prediction of USD1.4 billion, IATA added.
Across the Atlantic, European stock markets were higher. The EURO STOXX 50 climbed 0.93%, France’s CAC 40 jumped 1.23%, Germany's DAX advanced 0.96%, while Britain's FTSE 100 rallied 1.13%.
During the Asian trading session, Japan’s Nikkei 225 Index dropped 0.83%, while markets in Hong Kong were closed for a national holiday.
Later in the day, the U.S. was to publish a report by the Institute for Supply Management on manufacturing PMI, while Federal Reserve Chairman Ben Bernanke was due to speak at the Economic Club of Indiana, in Indianapolis.